Mr. Erik Milito - The House Committee on Natural Resources ...

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Key National Results
Wood Mackenzie‟s analysis found that U.S. policies which encourage the development of new and existing
resources could, by 2030, increase domestic oil and natural gas production by over 10 million boed,
support an additional 1.4 million jobs, and raise over $800 billion of cumulative additional government
revenue. Whereas increasing regulatory burdens on the oil and gas upstream sector will result in higher
development costs, which can potentially hinder the growth of production, tax revenues, and job creation.
Continuing the current path of policies which slow down the issuance of leases and drilling permits,
increase the cost of hydraulic fracturing through duplicative water or air quality regulations, or delay the
construction of oil sands export pipelines such as Keystone XL, will likely have a detrimental effect on
production, jobs, and government revenues.
Total U.S. Oil and Natural Gas Production (Projected)
Development Policy Case Incremental Impacts:
(Change from the Current Path Case)
35
30
25
Development Policy Case
Current Path Case
180
160
140
20
15
10
5
0
120
100
80
60
40
20
0
Total Potential Jobs Impact:
Approximately 1.0 million jobs by 2018 and over 1.4 million by 2030
Total cumulative potential government revenue:
Additional $36 billion by 2015 and nearly $803 billion by 2030
Total Potential Production impact:
By 2015, an additional 1.27 million boed could be produced, rising
to 10.4 million boed by 2030. Over the period 2012 to 2030, it is
estimated an additional cumulative 35.4 billion boe of reserves
could be produced through development policies
© Wood Mackenzie 3
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